Import Bills for Collection Service

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Import Bills for Collection Service

Another convenient way for international trade is Import Bills for Collection or B/C

Service Features
In case of being reliable suppliers, Bills for Collection can be selected as another way for payment. After all products are sent with documents, the bank will be responsible for such payment under specific conditions. However, we will not responsible or be bound with any failure occurring from such note. In case of the note is invalid, reasonable cause from such failure will be notified to the bank.

Import Bills for Collection is defined as a note collected for product payment or note accepted sending from foreign bank to the buyers.

After the bank receiving all documents from the bank aboard, customers need to make payment or accept the note based on such note’s type

Type of Service
Two types of Import Bills for Collection: B/C payment available:

Documents against Payment (D/P)
Payment will be done before receiving products from exported.

D/P Sight – Instant payment before receiving products

D/P Term – Payment and not accepted will be done at least within the due date stated on the note before receiving products

Documents against Acceptance (D/A)
Note will be accepted by customers before receiving products from exported company. Such payment will be done after the due date stated on the note

Applicants’ Qualifications
Owning import business for selling and manufacturing

Service Terms / Conditions

In case of being the bank’s customers, payment and note accepted are under specific conditions

In case of being other banks’ customers, documents will be sent to such bank with fee collected

In case of being bank branch’s customers, you will be contacted by the international trade department or international business center for making payment or note accepted under specific conditions. Documents will be sent to such branch

Benefits

Cheaper than L/C opening and less complicated process

Product checking before making a payment is available (for D/A ticket)

Receiving product before making a payment or accepting a note is allowed